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25.769 Million Cars Sold in China, Down 8.2%
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2020-02-03
China Association of Automobile Manufacturers (CAAM) published the car sales statistics for 2019. The country produced 25.721 million cars, down 7.5%, and sold 25.769 million cars, down 8.2% from the previous year, hitting an 18-month new low for the world's largest car market.
With an enormous domestic demand, the Chinese automotive market quickly rose as the world's largest automotive market, but as the market waned, so did the car sales which returned to a normal level and then in 2018 were met with the first negative growth in 28 years. In 2019 there were the transformation and upgrade of the Chinese automotive industry, the U.S./China trade war, the transition to new environmental regulations and a large cut on subsidies for new energy cars that seriously impacted the overall market performance.
With an enormous domestic demand, the Chinese automotive market quickly rose as the world's largest automotive market, but as the market waned, so did the car sales which returned to a normal level and then in 2018 were met with the first negative growth in 28 years. In 2019 there were the transformation and upgrade of the Chinese automotive industry, the U.S./China trade war, the transition to new environmental regulations and a large cut on subsidies for new energy cars that seriously impacted the overall market performance.
中國汽車工業協會
汽車銷售下滑
CAAM
car sales drop
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2020-02-13
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